Malone University EIN 34-0737794 Form 990 (PDF) Claim this org

Malone University

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Educates students for intellectual growth and mature Christian faith. For fiscal year 2024 it reported $45.4M in revenue, $45.2M in expenses, and $49.2M in net assets.Pt I

Founded
1899
Type
Higher education institution · Colleges & Universities
Location
Canton, OH
Website
www.malone.edu
Filings
5 on file (2020–2024)
Revenue
$45.4MFY2024
Expenses
$45.2M
Net assets
$49.2M
People
36
Filings
5
Updates
0
More identity details & actions ⌄
EIN  34-0737794 Higher education institution Canton, OH Founded 1899
Form 990 (PDF)
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Figures match the IRS filing checked 8/6/26 · see original: IRS
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Size
$10–100M
What they do
Educates students for intellectual growth and mature Christian faith.
Leadership
Greg Miller · President · $233K
Money in and out
$45.4M revenue, $45.2M expenses
Bottom line
+0.4% operating surplus
Financial scale & money flow · FY2024
Total revenue
$45.4M
Pt VIII · Ln 12
Total expenses
$45.2M
Pt IX · Ln 25
Net assets
$49.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $202K
Where spending went · Part IX cols B–D
Program services $0.85 Management & general $0.13 Fundraising $0.02
Operating surplus
+0.4%
revenue over expenses, this legal entity▲ +123% vs prior filing year
Payroll share
31%
of this entity's spending is salaries & benefits▲ +0.7% vs prior filing year
Program spending
85%
of expenses reach program services-0.2% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$45.4M
FY2024▲ +6%
Expenses
$45.2M
FY2024▲ +3%
Total assets
$68.7M
FY2024▲ +3%
Total liabilities
$19.5M
FY2024▲ +6%
Total revenue
$45.4M
Pt VIII · Ln 12
Total expenses
$45.2M
Pt IX · Ln 25
Net assets
$49.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$202K
Total assetsPt X · Ln 16$68.7M
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 331
Independent voting membersPt I · Ln 427

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMalone University
EINHdr · item D34-0737794
Principal addressHdr · item CCanton, OH
WebsiteHdr · item Jwww.malone.edu
Year of formationHdr · item L1899
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B420)
Ruling yearIRS BMFDec 1958

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a31
Independent voting membersPt VI · Ln 1b27
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$232,752Pt VII · Sec A
VP Finance & Business Affairs
$172,739Pt VII · Sec A
VP Enrollment & Marketing
$120,201Pt VII · Sec A
VP Advancement
$117,139Pt VII · Sec A
$116,041Pt VII · Sec A
VP Student Development
$98,833Pt VII · Sec A
$8,981Pt VII · Sec A
$0Pt VII · Sec A

Greg Miller’s $233K as President is at the 48th percentile of top reported officer pay among 3682 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
David King$208,051$240,823$198,673$335,770$225,709
Greg Miller$232,752$180,042$112,535$113,274$104,998$89,012
Katie Robbins$172,739$146,043$132,870$130,703$129,270$94,824
Patrick Roberts Left 1022$131,346
Tim Bryan$118,493$121,568$117,742
Eric Young$120,201$86,703
Brian Hollingsworth$117,139$110,951
Patrick Roberts$107,628$116,368$90,060

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $38.2M of program spending, described in the organization's own filed words · FY2024.
01

Traditional Undergraduate

Malone's christian liberal arts approach is widely recognized today as producing exceptional graduates prepared for all aspects of life. Our intent is that students attain the wisdom, knowledge, and skills necessary to serve, engage, and transform the communities in which they live and work.

$33.0Mprogram expense
02

Graduate Studies

Malone university has developed graduate programs and workshops to meet the needs of professionals desiring to advance their knowledge and skills in a faith-based environment. The following areas of study are offered: business administration (mba), school counseling (maed), nursing (MSN), and clinical mental health counseling (maed).

$4.5Mprogram expense
03

Non-Traditional Undergraduate

Malone university offers a degree completion option to adult learners with prior undergraduate coursework: MGMT (malone management program). Students can complete their degrees in as little as 12 months.

$772Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$37.2M · 82%
Contributions & grants$6.0M · 13%
Investment income$2.2M · 5%
Program service revenue82%$37.2M
Contributions & grants13%$6.0M
Investment income5%$2.2M
— government grantsLn 1e$979K
Total revenueLn 12$45.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.13 Fundraising $0.02
Program services85%$38.2M
Management & general13%$5.9M
Fundraising2%$1.1M
Total functional expensesLn 25$45.2M

Balance Sheet

Part X · end of year
CashLn 1$5.0M
Total assetsLn 16$68.7M
Total liabilitiesLn 26$19.5M
Total net assetsLn 32$49.2M
Months of cash on handcomputed1.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $26.4M · Operating expenses (Pt IX) $45.2M · Less non-cash grants $549K · Cash operating expenses/yr $44.6M
7.1 months
Where the money goes
Program services
Program services $38.2M · Total expenses $45.2M
85%
Management & General
Management & general $5.9M · Total expenses $45.2M
13%
Fundraising
Fundraising $1.1M · Total expenses $45.2M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $941K · Solicited contributions (3-yr avg) $4.9M
$0.19 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $6.0M · Total revenue $45.4M
13%
Government reliance
Government grants $979K · Total revenue $45.4M
2%
Earned-income share
Program service revenue $37.2M · Total revenue $45.4M
82%
Investment reliance
Investment income $2.2M · Total revenue $45.4M
+5%
Program self-sufficiency
Program service revenue $37.2M · Total expenses $45.2M
82%
Growth & trend
Revenue growth (YoY)
This year $45.4M · Prior year $43.0M
+6%
Revenue CAGR
FY2019 $45.1M · FY2024 $45.4M
+0.1%
Net-asset trend (YoY)
End of year $49.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $45.4M · Expenses $45.2M
+0.4%
Liabilities-to-Assets
Total liabilities — · Total assets $68.7M
Net-asset ratio
Net assets $49.2M · Total assets $68.7M
72%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $21.4M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $68.7M
31%
People & payroll
Highest Reported Total Compensation
Individual Greg Miller · Reported title PRESIDENT · Highest reported compensation $233K · Total expenses $45.2M
0.5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $14.0M · Total expenses $45.2M
31%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%
Overhead ratio 13%
Fundraising cost ratio 18%
Revenue growth 6%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 5 funders →
Grants paid · 6 grants · $102.4M · 2019–2024
Unitemized GrantFY2024$17,924,624
Unitemized GrantFY2023$17,275,644
Unitemized GrantFY2022$16,246,574
Unitemized GrantFY2021$16,645,262
Unitemized GrantFY2020$16,586,376
Unitemized GrantFY2019$17,695,478

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$43.0M revenue · ⤓ 990 PDF
FY2023$45.0M revenue · ⤓ 990 PDF
FY2022$43.1M revenue · ⤓ 990 PDF
FY2021$44.9M revenue · ⤓ 990 PDF
FY2020$45.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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